CORY NEWSOM DEFERRED COMPENSATION PLAN ADOPTION AGREEMENT (Including Code §409A provisions)

    
 Exhibit 10.5

XXXX XXXXXX
DEFERRED COMPENSATION PLAN
ADOPTION AGREEMENT
(Including Code §409A provisions)
 
Nonqualified Deferred Compensation Plan
Adoption Agreement
NONQUALIFIED
DEFERRED COMPENSATION PLAN
ADOPTION AGREEMENT
 
The undersigned, CITY BANK, TEXAS (“Employer”) and XXXX XXXXXX (“Participant”), by execution of this Adoption Agreement hereby
        establishes this Nonqualified Deferred Compensation Plan (“Plan”) consisting of the Basic Plan Document, this Adoption Agreement and all other Exhibits and documents to which they refer.  The Employer makes the following elections concerning this
        Plan.  All capitalized terms used in the Adoption Agreement have the same meaning given in the Basic Plan Document.  References to “Section” followed by a number in this Adoption Agreement are references to the Basic Plan Document.
 
ARTICLE I

DEFINITIONS

1.06 Change in Control.  Change in Control
        means (choose (a) or choose one of (b), (c) or (d)):
 
              ☐
              (a)          
              Not applicable.  Change

                  in Control does not apply for purposes of this Plan.
            
              ☒
              (b)          
              All events.  Change in
                  Control means all events under Section 1.06.
            
              ☐
              (c)          
              Limited events.  Change

                  in Control means only the following events under Section 1.06 (choose one or two of (i), (ii) and (iii)):
            
              ☐
              (i) Change in ownership of the Employer.

              ☐
              (ii) Change in the effective control of the Employer.

              ☐
              (iii) Change in the ownership of a substantial portion of the Employer’s assets.

              ☒
              (d)          
              (Specify):  For the purposes of Sections 3.02(e) and 4.01(b)(ii) of the Adoption Agreement, Change in Control means all events under Section 1.06 except transfers of stock made on account
                      of death, gifts, transfers of stock between family members or the acquisition by any qualified retirement plan sponsored by South Plans Financial, Inc. shall not be considered in determining whether there has  been a Change of Control.
            
Note: The Employer may not use the blank in (d) to
          specify events not described in Treas. Reg. §1.409A-3(i)(5).  However, the Employer may increase the percentages required to trigger a Change in Control
          under one or all three of the listed events.
 
1.10 Effective Date.  The effective date of
        the Plan is (choose one of (a) or (b)):
 
                    ☐
                    (a)
                    New Plan.  This Plan is a new Plan and is effective __________________.
                  
Note: The effective date should be no earlier than January 1, 2008.
 
1

Nonqualified Deferred Compensation Plan
Adoption Agreement

              ☒
              (b)          
              Restated Plan.  This
                  Plan is a restated Plan and is restated effective as of January 1, 2008.  The Plan is restated to comply with Code §409A.  The Plan was originally effective September 1, 2002 (Original Effective Date).
            
Note: If the Plan (whether or not in written form) was in effect before January 1, 2008, the Plan is a restated Plan.
 
1.18 Plan Name.  The name of the Plan as
        adopted by the Employer is: Xxxx Xxxxxx Deferred Compensation Plan.
 
1.19 Retirement Age.  A Participant’s
        Retirement Age under the Plan is (choose only one of (a)-(d)):
 
              ☐
              (a)          
              Not applicable. 
                  Retirement Age does not apply for purposes of this Plan.
            
              ☒
              (b)          
              Age.  The
                  Participant’s attainment of age: 58.
            
              ☐
              (c)          
              Age and service.  The
                  Participant’s attainment of age ____with ____ Years of Service (defined under 1.27) with the Employer.
            
              ☐
              (d)          
              (Specify):
                  __________________________________________________________.
            
1.27 Year of Service.  The following apply in
        determining credit for a Year of Service under the Plan (choose (a) or choose one or more of (b) - (e)):
 
              ☐
              (a)          
              Not applicable.  Year
                  of Service does not apply for purposes of this Plan.
            
              ☒
              (b)          
              Year of continuous service. 
                  To receive credit for one Year of Service, the Participant must remain in continuous employment with the Employer (or render contract service to the Employer) for a twelve-month period, the first such period beginning on the Original
                  Effective Date and successive periods beginning on the anniversary of such date.
            
              ☐
              (c)          
              Service on any day.  To
                  receive credit for one Year of Service, the Participant only need be employed by the Employer (or render contract service to the Employer) on any day of the Participant’s Taxable Year.
            
              ☒
              (d)          
              Pre-Plan service.  The
                  Employer will treat service before the Plan’s Effective Date for determining Years of Service as follows (choose one of (i) or (ii)):
            
                ☐
                (i)  Include.

                ☒
                (ii)  Disregard.

                ☐
                (e)          
                (Specify):
                    _______________________________________________________.
              
2

Nonqualified Deferred Compensation Plan
Adoption Agreement
ARTICLE III
VESTING AND SUBSTANTIAL RISK OF FORFEITURE
 
3.01 Vesting Schedule/Other Substantial Risk of
          Forfeiture.  The following vesting schedule or other Substantial Risk of Forfeiture applies to a Participant’s Termination Benefit (choose (a) or choose
          one or more of (b) - (f)):
 
              ☐
              (a)          
              Immediate vesting.  100%

                  Vested at all times with respect to the applicable Benefit.
            
                ☒
                (b)          
                Vesting schedule —
                      Separation from Service Benefit.  The Participant’s applicable Benefit is subject to the following vesting schedule:
              
            Years of Service 

From the Original Effective Date of the Plan

Vesting %

            0

            50

            %

            1

            55

            %

            2

            60

            %

            3

            65

            %

            4

            70

            %

            5

            75

            %

            6

            80

            %

            7

            85

            %

            8

            90

            %

            9

            95

            %

            10

            100

            %

              ☒
              (c)          
              Other Substantial Risk of
                    Forfeiture.  (Specify): Any of the following
                  conditions, determined in the sole judgment of the Employer, shall result in a forfeiture of Participant’s Benefit and shall apply even if any of the conditions specified is determined to not constitute a Substantial Risk of Forfeiture as
                  defined in Treas. Reg. §1.409A-1(d).
            
              (i)
              Discharge for Cause.  If the Participant is Discharged for Cause, Participant’s
                    Benefit is forfeited.  “Discharge for Cause” shall mean the termination of Participant’s employment with the Employer as a result of any of the following:

              (A)
              the Participant’s commission of a felony or gross misdemeanor involving fraud or dishonesty;

              (B)
              the Participant’s willful violation of any banking law, rule, or banking regulation;

              (C)
              an intentional failure by Participant to perform stated duties; or

              (D)
              a breach of fiduciary duty by Participant involving personal profit.

3

Nonqualified Deferred Compensation Plan
Adoption Agreement
If a dispute arises as to whether a termination of Participant’s employment constitutes “Discharge for Cause,” such dispute shall be
        resolved by arbitration as set forth in Section 6.10 of the Basic Plan Document.  If the Participant resigns due to any of the conduct described above, the Employer may deny Participant’s Benefit.
 
              (ii)
              Death.  If the Participant dies, Participant’s Benefit is forfeited.

              (iii)
              Proprietary Information of Employer.  Employer promises to give Participant “trade secrets” and confidential information during the course of Participant’s employment.  In
                    return, Participant agrees not to use or disclose Employer’s “trade secrets” or confidential information after Participant’s Separation from Service.  If Participant, directly or indirectly, makes known, discloses, furnishes or utilizes
                    any of the “trade secrets” or confidential information of the Employer other than in the proper performance of Participant’s duties or as required by a court of competent jurisdiction or other administrative or legislative body,
                    provided that, prior to disclosing any of the confidential information to a court or other administrative or legislative body, Participant shall promptly notify the Employer so it may seek a protective order or other appropriate remedy,
                    Participant’s Benefit is forfeited.  “Trade Secret” shall mean any devices, secret inventions, processes and compilations of information and records owned by Employer and regularly used in the operation of the business of the Employer. 
                    Participant acknowledges direct and indirect disclosure of any such confidential information to existing or potential competitors of Employer would place Employer at a competitive disadvantage and would do damage, monetary or otherwise,
                    to Employer.  Participant agrees to return all confidential information, including all photocopies, extracts and summaries thereof, and any such information stored electronically on tapes, computer disks or in any other manner to the
                    Employer at any time upon request by the Employer and upon Separation from Service.

              (iv)
              Non-Competition.  Ancillary to the agreements in (iii), Participant agrees not to engage in “Competition” with the Employer in any county where the Employer maintains a
                    branch office from the Effective Date until the second anniversary following the earliest payment event to occur under Article IV of the Adoption Agreement (the Non-Competition Period).  If Participant engages in “Competition” with the
                    Employer in any county where the Employer maintains a branch office during the Non-Competition Period, Participant’s Benefit is forfeited.  “Competition” shall mean the Participant’s engaging in, or directly or indirectly being employed
                    by or acting as a consultant or lender to, or being a director, officer, employee, principal, licensor, trustee, broker, agent, stockholder, member, owner, joint venturer or partner of, or permitting his name to be used in connection
                    with the activities of any other business or organization which is engaged in the same business as the business of the Employer.  It shall not be a violation of the Non-Competition clause for Participant to:

4

Nonqualified Deferred Compensation Plan
Adoption Agreement

              (A)
              become the registered or beneficial owner of less than five percent (5%) of any class of capital stock of a competing corporation registered under the Securities Exchange
                    Act of 1934, as amended; or

              (B)
              be employed by an entity which engages in the same business as the business of the Employer so long as Participant does not directly perform services for or work within a
                    division or business unit of such entity which engages in the business of the Employer.

              (v)
              Solicitation of Employer’s Customers.  During the Non-Competition Period, if the Participant does any of the following, directly or indirectly, Participant’s Benefit is
                    forfeited:

              (A)
              solicit from any of Employer’s customers business of the same or similar nature to the business between Employer and customer;

              (B)
              solicit the employment or services of any person who at the time is employed by or a consultant to the Employer; or

              (C)
              make any statements or comments of a defamatory or disparaging nature to third parties regarding Employer or its officers, directors, personnel, product, or services.

              (vi)
              Forfeiture.

              (A)
              Forfeiture.  If at any time it is determined in the sole judgment of the Employer the Participant has engaged in any provision of Section 3.01(c)(iii), (iv), or (v) of the
                    Adoption Agreement, the Participant’s Benefits shall be forfeited and the Participant shall repay to the Employer any and all Benefits already received, including Benefits paid as a lump sum, without prejudice to the Employer’s right to
                    pursue other equitable and legal remedies for enforcement and recovery.

              (B)
              Other Relief.  A material breach by Participant of any of the provisions of Section 3.01(c)(iii), (iv), or (v) of the Adoption Agreement will cause the Employer irreparable
                    injury and would not be reasonably or adequately compensated for by damages in an action at law.  Participant therefore agrees the Employer shall be entitled, in addition to any other right or remedy, to a temporary, preliminary and
                    permanent injunction without the necessity of proving the inadequacy of monetary damages or the posting of any bond or security, enjoining or restraining Participant from any such violation.

              (C)
              Construction.  It is the intent of the Participant and Employer that if, in the opinion of any court of competent jurisdiction or arbitrator, any provision set forth in the
                    Plan is not reasonable in any respect, or any provision should be deemed to exceed the time, geographic or occupational limits permitted by applicable law, such court or arbitrator shall have the right, power and authority to modify any
                    and all such provisions and to enforce the remainder of the Plan as so modified.

5

Nonqualified Deferred Compensation Plan
Adoption Agreement
Note: An Employer may elect both a vesting schedule and an additional Substantial Risk of Forfeiture.  In such event, a Participant
        failing to satisfy the conditions resulting in a Substantial Risk of Forfeiture will forfeit his/her Benefit, even if 100% Vested under any vesting schedule.
 
3.02 Immediate Vesting upon Specified Events.  A
        Participant’s applicable Benefit is 100% Vested without regard to Years of Service as follows: (choose (a) or choose one or more of (b) — (e)):
 
              ☐
              (a)          
              Not Applicable.
            
              ☐
              (b)          
              Retirement Age.  Upon
                  the date the Participant attains Normal Retirement Age.
            
              ☐
              (c)          
              Death.  Upon the
                  Participant’s date of death.
            
              ☒
              (d)          
              Disability.  Upon a
                  determination of Participant’s Disability prior to the Participant’s Separation from Service.
            
              ☒
              (e)          
              (Specify): Upon a Change in Control prior to the Participant’s Separation from Service.
            
Note: An early vesting provision generally does not result in prohibited acceleration of benefits under Code §409A.  See Section
        4.02(C).
 
ARTICLE IV
BENEFIT PAYMENTS
 
4.01 Participant’s Benefit shall be either (a), (b), or (c), based on the earliest payment event to occur:
 
              ☒
              (a)          
              Retirement Benefit.  If
                  the Participant has not Separated from Service with Employer and has attained Normal Retirement Age, the Employer shall pay to Participant:
            
              (i)
              Annual payments each in the amount of $118,070,

              (ii)
              Commencing upon the first day of the second month following Participant’s attainment of Normal Retirement Age and thereafter annually on each successive anniversary of the
                    first payment date.

6

Nonqualified Deferred Compensation Plan
Adoption Agreement

              (iii)
              At Participant’s death after payments have begun, the Plan shall terminate and all benefits shall cease and be forfeited, including any future benefits or vested benefits.

                ☒
                (b)          
                Separation from Service
                      Benefit.
              
              (i)
              Except as provided in (ii), if the Participant Separates from Service with the Employer for any reason other than death, Disability, or Discharge for Cause prior to
                    attaining Normal Retirement Age, Employer shall pay to Participant:

              (A)
              A lump sum amount equal to the Benefit Liability Balance as of the end of the year preceding the year in which the Participant Separated from Service multiplied by the
                    Participant’s Vested Percentage, The schedule of the “Benefit Liability Balances” are set forth on Exhibit “A.”

              (B)
              On the first day of the twenty-fourth month following the Participant’s Separation from Service from the Employer.

              (C)
              If the Participant dies before the payment is made, the Plan shall terminate and all benefits shall cease and be forfeited, including any future benefits or vested
                    benefits.

              (ii)
              If the Participant Separates from Service within two years after a Change of Control for any reason other than Discharge for Cause or Disability, the Employer shall pay to
                    Participant:

              (A)
              Annual payments each in the amount of $118,070,

              (B)
              Commencing upon the first day of the second month following Participant’s attainment of Normal Retirement Age and thereafter annually on each successive anniversary of the
                    first payment date,

              (C)
              If the Participant dies before the payments begin or after payments have begun, the Plan shall terminate and all benefits shall cease and be forfeited, including any future
                    benefits or vested benefits.

              ☒
              (c)          
              Disability Benefit. 
                  In the event the Participant is determined to be Disabled before the attainment of Normal Retirement Age or Separation from Service, the Employer shall pay to the Contingent Disability Trust:
            
              (i)
              a lump sum payment of the Benefit Liability Balance as of the end of the year preceding the year in which the Participant is determined to be Disabled.  The schedule of the
                    “Benefit Liability Balances” are set forth on Exhibit “A.”

7

Nonqualified Deferred Compensation Plan
Adoption Agreement

              (ii)
              on the first day of the second month following the date the Participant is determined to be Disabled.

              (iii)
              If the Participant dies before the payment is made, the Plan shall terminate and all benefits shall cease and be forfeited, including any future benefits or vested
                    benefits.

4.02 Medium of Payment.  The form of payment will
        be (choose only one of (a) - (c):
 
              ☒
              (a)          
              Cash only.
            
              ☐
              (b)          
              Property only.
            
              ☐
              (c)          
              Property or cash (or
                  both).
            
Note: A choice between cash or property is not subject to Code §409A.  See Treas. Reg. §1.409A-2(a)(1).  The Plan
        treats this election as not being subject to the timing rules applicable to payment elections.
 
4.02(B)  Change payment elections.  The Plan (choose only one of (a) or (b); choose (c) if (b) applies and choose (d) if applicable):
 
              ☐
              (a)          
              Change payment elections not
                    permitted.  Does not permit a Participant, a Beneficiary or the Employer to make a change payment election in accordance with Section 4.02(B).
            
              ☒
              (b)          
              Permits change payment
                    elections.  Permits changes payment elections or changes to a change payment elections in accordance with Section 4.02(B) and as follows (choose
                    one or more of (i) -(iv)):
            
              ☐
              (i)          
              Participant election. 
                  Permits a Participant to make change payment elections.
            
              ☒
              (ii)          
              Employer election. 
                  Permits the Employer to make change payment elections.
            
              ☐
              (iii)          
              Beneficiary election. 
                  Permits a Beneficiary following the Participant’s death to make change payment elections.
            
              ☐
              (iv)          
              (Specify): 
                  _________________________________ (e.g., a Beneficiary may
                  make a change payment election only if the Participant had the right to do so, OR a Participant may make a change payment election only after attaining age 60).
            
              ☒
              (c)          
              Limit on number of change
                    payment elections.  The number of change payment elections (as to any initial payment election) that a Participant, a Beneficiary or the Employer (as applicable) may make is (choose one of (i) or (ii)):
            
8

Nonqualified Deferred Compensation Plan
Adoption Agreement

              ☒
              (i)          
              Unlimited.  Not
                  limited except as required under Section 4.02(B).
            
              [   ]
              (ii)          
              Limited.  Limited to:
                  ______________ (specify number).
            
              [   ]
              (d)          
              (Specify):
                  __________________________________ (e.g., permits change payment elections only as to specified Benefits).
            
4.05(B) Election changes/Irrevocability.  A
        Participant who makes a change payment election which the Employer has accepted:
 
(a)          Change payment elections.  (choose one of (i), (ii) or (iii)):
 
              ☐
              (i)          
              May change.  May
                  change the change payment election as to the Deferred Compensation to which the election applies.  Where the payment event is a Specified Time or a Fixed Schedule, the Participant may change the election until the applicable deadline
                  under Section 4.02(B)(1)(a).  Where the change payment election relates to any other payment event (not a Specified Time or a Fixed Schedule), the Participant must make the change within 30 days following the Participant’s making of the
                  change payment election which the Participant seeks to change.  Any change to a change payment election made after the change payment election becomes irrevocable is a new change payment election.
            
              ☐
              (ii)          
              May not change.  May
                  not change the change payment election as to the Deferred Compensation to which the election applies.
            
              ☒
              (iii)          
              Not applicable.  As
                  elected above, a Participant may not make a change payment election.
            
9

Nonqualified Deferred Compensation Plan
Adoption Agreement
EMPLOYER SIGNATURE
 
The Employer hereby agrees to the provisions of this Plan, and in witness of its agreement, the Employer, by its duly authorized
        officer, has executed this Adoption Agreement on April 9, 2008.
 
          Name of Employer:

          Signed:

          [Name/Title]

PARTICIPANT SIGNATURE
 
The Participant hereby agrees to the provisions of this Plan and in witness of its agreement, the Participant has executed this Adoption
        Agreement on April 9, 2008.
 
          Name of Participant: XXXX XXXXXX

          Signed:

          /s/ Xxxx X. Xxxxxx

10

City Bank
Xxxxxx, Xxxx T
February 4, 2008
End of Year Age:  40
Retirement Age:  58
Age At Death:  85

          End of
Year

          Total 

Benefit 

Liability 
Balance

          2007

          79,136

          2008

          104,043

          2009

          132,220

          2010

          164,019

          2011

          199,823

          2012

          240,057

          2013

          285,182

          2014

          335,707

          2015

          392,189

          2016

          455,237

          2017

          525,521

          2018

          603,769

          2019

          690,781

          2020

          787,434

          2021

          894,684

          2022

          1,013,578

          2023

          1,145,259

          2024

          1,290,976

          2025

          1,394,014

          2026

          1,371,640

          2027

          1,347,588

          2028

          1,321,732

          2029

          1,293,937

          2030

          1,264,057

          2031

          1,231,937

          2032

          1,197,407

          2033

          1,160,287

          2034

          1,120,384

          2035

          1,077,487

          2036

          1,031,374

          2037

          981,801

          2038

          928,511

          2039

          871,224

          2040

          809,640

          2041

          743,438

          2042

          672,270

          2043

          595,766

          2044

          513,523

          2045

          425,112

          2046

          330,071

          2047

          227,901

          2048

          118,069

          2049

          2050

          2051

AMENDMENT TO XXXX XXXXXX DEFERRED COMPENSATION PLAN
 
This Amendment is made this 19th day of December, 2014 to
        be effective January 1, 2015, by CITY BANK, TEXAS (“Employer”) to the XXXX XXXXXX DEFERRED COMPENSATION PLAN (the “Plan”).
 
W I T N E S S E T H:
 
WHEREAS, Employer has heretofore adopted and maintained the Plan; and
 
WHEREAS, Employer now desires to amend the Plan.
 
NOW, THEREFORE, to carry such Amendment in to effect, the Plan and all instruments thereof heretofore executed are hereby amended
        effective immediately as follows:
 
I.
 
Section 4.01 shall be amended to read as follows:
 
4.01 Participant’s Benefit shall be either (a), (b), or (c), based on the earliest payment event to occur:
 
              ☒
              (a)          
              Retirement Benefit.  If

                  the Participant has not Separated from Service with Employer and has attained Normal Retirement Age, the Employer shall pay to Participant:
            
              (i)
              Annual payments each in the amount of $150,000.00,

              (ii)
              Commencing upon the first day of the second month following Participant’s attainment of Normal Retirement Age and thereafter annually on each successive anniversary of the
                    first payment date.

              (iii)
              At Participant’s death after payments have begun, the Plan shall terminate and all benefits shall cease and be forfeited, including any future benefits or vested benefits.

              ☒
              (b)          
              Separation from Service Benefit.
            
              (i)
              Except as provided in (ii), if the Participant Separates from Service with the Employer for any reason other than death, Disability, or Discharge for Cause prior to
                    attaining Normal Retirement Age, Employer shall pay to Participant:

              (A)
              A lump sum amount equal to the Benefit Liability Balance as of the end of the year preceding the year in which the Participant Separated from Service multiplied by the
                    Participant’s Vested Percentage.  The schedule of the “Benefit Liability Balances” are set forth on Exhibit “A”.

              (B)
              On the first day of the twenty-fourth month following the Participant’s Separation from Service from the Employer.

              (C)
              If the Participant dies before the payment is made, the Plan shall terminate and all benefits shall cease and be forfeited, including any future benefits or vested
                    benefits.

              (ii)
              If the Participant Separates from Service within two years after a Change of Control for any reason other than Discharge for Cause or Disability, the Employer shall pay to
                    Participant:

              (A)
              Annual payments each in the amount of $150,000.00,

              (B)
              Commencing upon the first day of the second month following Participant’s attainment of Normal Retirement Age and thereafter annually on each successive anniversary of the
                    first payment date.

              (C)
              If the Participant dies before the payments begin or after payments have begun, the Plan shall terminate and all benefits shall cease and be forfeited, including any future
                    benefits or vested benefits.

              ☒
              (c)          
              Disability Benefit.  In

                  the event the Participant is determined to be Disabled before the attainment of Normal Retirement Age or Separation from Service, the Employer shall pay to the Contingent Disability Trust:
            
              (i)
              a lump sum payment of the Benefit Liability Balance as of the end of the year preceding the year in which the Participant is determined to be Disabled.  The schedule of the
                    “Benefit Liability Balances” are set forth on Exhibit “A”.

              (ii)
              on the first day of the second month following the date the Participant is determined to be Disabled.

              (iii)
              If the Participant dies before the payment is made, the Plan shall terminate and all benefits shall cease and be forfeited, including any future benefits or vested
                    benefits.

II.
 
Exhibit A as referenced above shall be amended to the values as set forth on the copy of such Exhibit A attached to this Amendment.
 
III.
 
The Plan, as amended hereinabove, and all instruments thereof heretofore executed be and are hereby ratified and affirmed.
 
          CITY BANK, TEXAS

          By:

          Xxxxxx Xxxxxxxx

          Title:

          Chairman

          Authorized Officer

          “Employer”

Participant Plan Summary
City Bank
Xxxx Xxxxxx

          End of Year

          Benefit Liability 
Balance

          2015

          $

          426,146

          2016

          525,520

          2017

          634,734

          2018

          754,781

          2019

          886,747

          2020

          1,031,818

          2021

          1,191,292

          2022

          1,366,590

          2023

          1,559,262

          2024

          1,771,003

          2025

          1,742,579

          2026

          1,712,022

          2027

          1,679,174

          2028

          1,643,862

          2029

          1,605,901

          2030

          1,565,094

          2031

          1,521,226

          2032

          1,474,068

          2033

          1,423,373

          2034

          1,368,876

          2035

          1,310,292

          2036

          1,247,314

          2037

          1,179,612

          2038

          1,106,833

          2039

          1,028,596

          2040

          944,490

          2041

          854,077

          2042

          756,883

          2043

          652,399

          2044

          540,079

          2045

          419,335

          2046

          289,535

          2047

          150,000

          2048

          2049
Document Metadata

Table of Contents

CORY NEWSOM DEFERRED COMPENSATION PLAN ADOPTION AGREEMENT (Including Code §409A provisions)

Document Metadata

Years of Service From the Original Effective Date of the Plan	Vesting %
0		50	%
1		55	%
2		60	%
3		65	%
4		70	%
5		75	%
6		80	%
7		85	%
8		90	%
9		95	%
10		100	%
End of Year	Total Benefit Liability Balance
2007		79,136
2008		104,043
2009		132,220
2010		164,019
2011		199,823
2012		240,057
2013		285,182
2014		335,707
2015		392,189
2016		455,237
2017		525,521
2018		603,769
2019		690,781
2020		787,434
2021		894,684
2022		1,013,578
2023		1,145,259
2024		1,290,976
2025		1,394,014
2026		1,371,640
2027		1,347,588
2028		1,321,732
2029		1,293,937
2030		1,264,057
2031		1,231,937
2032		1,197,407
2033		1,160,287
2034		1,120,384
2035		1,077,487
2036		1,031,374
2037		981,801
2038		928,511
2039		871,224
2040		809,640
2041		743,438
2042		672,270
2043		595,766
2044		513,523
2045		425,112
2046		330,071
2047		227,901
2048		118,069
2049
2050
2051
End of Year	Benefit Liability Balance
2015	$	426,146
2016		525,520
2017		634,734
2018		754,781
2019		886,747
2020		1,031,818
2021		1,191,292
2022		1,366,590
2023		1,559,262
2024		1,771,003
2025		1,742,579
2026		1,712,022
2027		1,679,174
2028		1,643,862
2029		1,605,901
2030		1,565,094
2031		1,521,226
2032		1,474,068
2033		1,423,373
2034		1,368,876
2035		1,310,292
2036		1,247,314
2037		1,179,612
2038		1,106,833
2039		1,028,596
2040		944,490
2041		854,077
2042		756,883
2043		652,399
2044		540,079
2045		419,335
2046		289,535
2047		150,000
2048
2049